Unsecured Easy Personal Loans
Unsecured Easy Personal Loans
Qbera offers unsecured easy personal loans for the salaried. Modern day households are finding it increasingly difficult to set aside any kind of money for emergencies. Any eventuality that requires money like hospitalization, medical bills or urgent home repairs is difficult to manage. Thankfully, unsecured easy personal loans are here to save the day. Emergency translates to immediate action and funds. Banks and other financial institutes may not be handy in such situations with their stringent set of rules and procedures. Fintechs like Qbera, on the other hand, are much more effective in such situations.
The key features and criteria for a Qbera loan-
- Unsecured personal loans are extended to salaried individuals with a minimum take home salary of Rs 18,000 and a relaxed income to debt ratio.
- An unsecured easy personal loan does not require any collateral or guarantor.
- These loans carry long repayment tenure ranging from 6 months to 60 months. This long tenure ensures that the monthly EMI is manageable and easy to handle by the applicant.
- To avail the maximum benefit of the long repayment tenure, the age group of 23-55 years is preferred.
- The interest rate charged is strictly regulated and it typically starts at 10.99%. Furthermore, the interest rate on an unsecured easy personal loan can be negotiated if you have a good CIBIL score. The credit score is the single most important criterion used to establish the credibility of an individual. The higher the score, more likely you are to negotiate a better interest rate.
- Banks insist on a CIBIL score of 750 and more, but, a marginally low score of 600 is also considered by Qbera. This is thanks to the advanced risk assessing algorithms used by Fintech lenders which uses the social and economic standing of an individual as well.
These easy personal loans are very easy to apply as well. Being digital the entire process is carried on online with minimal physical documents. To apply, the applicant has to fill up the loan application with personal and employment details that decide the approval or rejection of the application. After the internal qualifying norms are met, the applicant can submit supporting documents like bank statements and pay slips online using secure banking credentials. Some physical documents like Aadhar card, PAN card, salary slips and income statements, bank statements, photographs and post-dated cheques from the salary account are required. These are collected from your doorstep by an executive from Qbera.
- Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
- EMI of ₹7091 per month
- Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
- Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)
- Age: 21-57 years old
- Net Monthly Income must be more than Rs. 18,000.
- No defaults in the last 24 months.
- You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai, Hyderabad, Jaipur, Ahmedabad or Kolkata.
Documents Required after Digital Approval
- Aadhaar Card
- PAN Card
- 4 Cheques from your Salary Account
- Current Address Proof
- Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)
"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."
I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...
"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."
"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"
"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"
"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"